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Do You Have Bad Debt?

By James Standford

Over $10,000 in credit card debt? Keep reading to find out how there are laws that protect you even though you have a large amount of credit card debt. If you’re not able to make full payments on your debt, you’re not alone. There are many, many Americans today with over $10,000 in credit card debt, and they are searching for a way to reduce, or even eliminate their credit card debt if they can.

However, most consumers don’t know much about how they can reduce this debt. Not many at all know that they can, in some cases, even have their credit card debt completely erased for them! This is through the Obama credit card reform bill. It provides money for people that are deeply caught in credit card debt to help reduce their debt. In a few instances, it can even eliminate the credit card debt completely!

The only catch (you knew there was one) is that your debt must be unsecured in order for the government to help you out. If it isn’t, then this might not be the best option for you to use as a solution. If it is, however, then you’re in luck! You could possibly be out of debt this year! And once you are out of debt it is important to just use cash so you do not have accumulate any more new debt in your financial life. This will help you keep you out of debt for a long time.

After hearing this, you might ask why they’re doing this. Why would they voluntarily lose money if someone owes them? Well, that’s because they know they’ll probably never get all of their money from you, so it’d be better from them to at least get a portion of what you owe now, than having to wait for small, measly bits of it. It also benefits America as a whole by providing healthier citizens.

So, as you can see, the American Government is all about getting you out of debt. You just have to know how to get these programs to work for you, and get in contact with the right people who can help you make the right choices when getting out of debt. All of this should be free to you.

Both of these resources can government help for credit cards also government help for credit cardshelp you with more information

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Topics: Credit and Debit | Comments Off

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Article Citation
MLA Style Citation:
Standford, James "Do You Have Bad Debt?." Do You Have Bad Debt?. 7 Jul. 2010. uberarticles.com. 11 Sep 2014 <http://uberarticles.com/finance/credit-and-debit/do-you-have-bad-debt/>.

APA Style Citation:
Standford, J (2010, July 7). Do You Have Bad Debt?. Retrieved September 11, 2014, from http://uberarticles.com/finance/credit-and-debit/do-you-have-bad-debt/

Chicago Style Citation:
Standford, James "Do You Have Bad Debt?" uberarticles.com. http://uberarticles.com/finance/credit-and-debit/do-you-have-bad-debt/


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